Can I retire at age 55 with 585,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $585,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$48,309$47,878$47,459$47,049$46,649$46,413
2 years$23,915$23,470$23,038$22,620$22,214$21,976
3 years$15,785$15,338$14,907$14,493$14,093$13,861
4 years$11,721$11,275$10,849$10,441$10,051$9,826
5 years$9,283$8,840$8,419$8,020$7,641$7,423
6 years$7,658$7,218$6,804$6,413$6,046$5,836
7 years$6,498$6,062$5,654$5,273$4,917$4,715
8 years$5,628$5,196$4,795$4,423$4,079$3,885
9 years$4,952$4,524$4,130$3,768$3,435$3,249
10 years$4,412$3,988$3,601$3,248$2,927$2,749
11 years$3,970$3,550$3,170$2,827$2,517$2,347
12 years$3,602$3,186$2,813$2,479$2,181$2,019
13 years$3,291$2,880$2,513$2,189$1,902$1,747
14 years$3,024$2,617$2,258$1,943$1,668$1,520
15 years$2,793$2,391$2,039$1,733$1,468$1,328
16 years$2,592$2,194$1,849$1,552$1,298$1,164
17 years$2,414$2,020$1,682$1,394$1,151$1,024
18 years$2,256$1,867$1,536$1,256$1,023$903
19 years$2,115$1,730$1,406$1,135$912$798
20 years$1,988$1,608$1,290$1,028$814$706
21 years$1,874$1,498$1,187$933$729$627
22 years$1,770$1,398$1,094$848$653$557
23 years$1,675$1,308$1,010$773$586$495
24 years$1,588$1,225$934$705$527$441
25 years$1,508$1,150$865$644$474$393
26 years$1,435$1,080$802$588$427$351
27 years$1,367$1,017$745$539$385$314
28 years$1,304$958$693$493$348$280
29 years$1,245$904$644$453$314$251
30 years$1,191$854$600$415$284$224
31 years$1,140$807$560$381$256$201
32 years$1,092$764$522$351$232$180
33 years$1,048$723$488$322$210$161
34 years$1,006$685$456$297$190$145
35 years$966$650$426$273$172$130
36 years$929$617$398$251$156$116
37 years$894$586$373$232$141$104
38 years$861$557$349$214$128$94
39 years$830$530$327$197$116$84
40 years$800$504$307$182$105$75
41 years$772$480$288$168$96$68
42 years$745$457$270$155$87$61
43 years$719$435$253$143$79$55
44 years$695$415$238$132$71$49
45 years$672$396$223$122$65$44
46 years$650$377$210$112$59$40
47 years$629$360$197$104$53$36
48 years$609$344$185$96$49$32
49 years$590$328$174$89$44$29
50 years$571$314$163$82$40$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $585,000, adding $4,730 every year, while hoping to spend $26,268 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 62/26/12 Blend
54$585,000$585,000$585,000$585,000
55$649,549$618,544$609,476$687,696
56$687,854$620,904$601,945$716,204
57$729,186$622,499$593,281$743,874
58$773,825$623,264$583,418$773,432
59$822,081$623,129$572,289$805,060
60$874,293$622,022$559,820$838,962
61$930,834$619,864$545,937$875,363
62$992,114$616,572$530,560$914,509
63$1,058,584$612,059$513,609$956,676
64$1,130,740$606,230$494,995$1,002,165
65$1,209,128$598,988$474,629$1,051,312
66$1,294,347$590,226$452,418$1,104,486
67$1,387,058$579,835$428,262$1,162,096
68$1,487,988$567,697$402,058$1,224,594
69$1,597,934$553,686$373,699$1,292,477
70$1,717,778$537,671$343,073$1,366,299
71$1,848,487$519,513$310,061$1,446,666
72$1,991,127$499,062$274,542$1,534,253
73$2,146,869$476,164$236,386$1,629,801
74$2,317,006$450,652$195,461$1,734,130
75$2,502,957$422,351$151,627$1,848,148
76$2,706,289$391,077$104,736$1,972,854
77$2,928,724$356,633$54,638$2,109,354
78$3,172,159$318,813$1,173$2,258,868
79$3,438,682$277,397$0$2,422,742
80$3,730,594$232,156$0$2,609,619
81$4,050,427$182,844$0$2,814,611
82$4,400,972$129,205$0$3,039,404
83$4,785,300$70,966$0$3,286,021
84$5,206,796$7,838$0$3,556,697
85$5,669,187$0$0$3,853,896
86$6,176,577$0$0$4,197,637
87$6,733,489$0$0$4,577,434
88$7,344,904$0$0$4,994,448
89$8,016,307$0$0$5,452,425
90$8,753,743$0$0$5,955,495
91$9,563,871$0$0$6,508,206
92$10,454,026$0$0$7,115,570
93$11,432,287$0$0$7,783,105
94$12,507,557$0$0$8,516,894
95$13,689,643$0$0$9,323,637
96$14,989,352$0$0$10,210,715
97$16,418,587$0$0$11,186,261
98$17,990,464$0$0$12,259,236
99$19,719,433$0$0$13,439,511
100$21,621,417$0$0$14,737,964